Staffing & Culture | 11.02.26

RIAs Fall Short in Developing Junior Advisors

by: Michael S. Fischer

A recently released study by DeVoe & Co identifies a “development gap” among registered investment advisors (RIAs), in that management systems are improving faster than employee development. A record 59% of firms have structured incentive plans, and 49% conduct at least semiannual performance reviews, but only 10% offer comprehensive training for junior advisors. Succession concerns are growing, with 21% of firms not considering a plan and 72% lacking confidence in smooth leadership transitions. Although employee attrition is at a record low, equity and partnership issues have become the leading workforce challenge, affecting 30% of firms.

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